Let’s for a moment put aside the discussion as to whether an investment by a law firm into premium real estate makes sense. Let’s assume that clients don’t object to funding acres of marble and an atrium full of lush vegetation. This question is about where your firm’s offices are, not what they are. TheContinue reading “The writing on the wall #7 – location, location, location”
As the economy picks up, the gladiators pick up their weapons in the fight for talent again. With a raft of restructurings in the past five years, now that work is picking up, there are structural gaps in the talent profile of a number of similar firms. Make no mistake that the recession was long andContinue reading “The writing on the wall #6 – quality talent equals high price?”
Firms are getting bigger. Mergers and International expansion may be the main culprits in recent years, bit add the economy slowly returns to growth, plenty of other law firms face the challenges associated with getting bigger. Some, like the competition for talent are frequently mentioned, but there is another that is less talked about andContinue reading “The writing on the wall #5 management complexity”
It seems that whatever the practice area, lawyers talk in hushed tones about their work becoming a commodity. Corporate law, employment law, technology law are among the areas where there is much gnashing of teeth and squeezing of margins. Much of the debate focuses on whether to do the commoditized elements and if soContinue reading “The writing on the wall #4 – the commodity game”
There is no shortage of commentary about the need for law firms to change in what is the most significant transition in the profession in a lifetime. Theories from Darwin to Kotter are cited yet firms still struggle with the day to day reality of change. Partners speak of their frustration that things don’t moveContinue reading “The writing’s on the wall #3 – resistance to change”
Given property is often the second biggest cost of a law firm behind head count, I wonder what the impact would be of scaling back prestigious offices and reinvesting some of the capital in technology that would make a real difference for clients.
Almost exactly three years since I called time on this blog (see The End of the Beginning) , I now feel called to reignite it but in a way that better fits in with the way social media has evolved. The battle for attention has intensified – lawyers and their business colleagues (whether in lawContinue reading “A new beginning – the writing’s on the wall”